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One third of the office space has already been pre-leased, the developers said, even before the project was publicly announced.

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The project is slated for 2,351 residential units anbd 540,000 square feet of office space.

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A pre-application meeting between reviewers and representatives of the developers is scheduled for June 30.

Hyatt and Gencom's Three-Tower Development On The Miami River

The supertall tower is planned to rise exactly 1,049 feet – the maximum permitted by Miami’s zoning rules.

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Major is planned to top off at a height of 1,042 feet above ground, or 1,049 feet above sea level, according to the new FAA filing.

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This volatility has led some contractors to order and pre-pay for materials earlier than they usually would, tying more money into projects up front.

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The price was not officially disclosed but people familiar with the deal stated it was more than $400 million and less than $500 million, with some sources saying the price was roughly $450 million.